Innit Acquires ShopWell, Plans Platform Launch in 2017

Innit integrates ShopWell into its connected food platform,
empowering consumers from store to home

February 23, 2017 08:00 AM Eastern Daylight Time

REDWOOD CITY, Calif.--(EON: Enhanced Online News)--Innit®, a leading food tech innovator, today announced it has acquired
ShopWellTM Labs, Inc., a personalized food discovery
platform. The ShopWell services will continue to operate, and will
ultimately be integrated into the Innit connected food platform which is
scheduled to launch later in 2017. The combined solution will empower
consumers with advanced, personalized features spanning the entire food
lifecycle, from meal planning, shopping and preparation, to automated
cooking on smart appliances.

Based on the combined platform, Innit will offer connected food retail
API services to provide personalized nutrition and cooking information
to retailers and food brands that wish to enhance their consumer
experience.

The ShopWell mobile app, which has been downloaded over 2.5 million
times, provides consumers personalized nutrition recommendations,
allergy alerts and detailed ingredient analysis for a wide variety of
foods. Consumers can now let the food do the talking by scanning a
product label, searching a database of over 400,000 products or
connecting their store loyalty card to automatically track food
purchases and receive curated recommendations. Location-based services
tailor the ShopWell experience to the user’s preferred retailer and home
environments.

“ShopWell has long been a leading authority on personalized nutrition.
We’re integrating their unique capabilities into the Innit Platform to
provide consumers with inspiration and confidence at every stage of
selecting and preparing food,” said Eugenio Minvielle, president and
founder of Innit. “Personalization of food and nutrition is at the
forefront of our strategy and ShopWell brings powerful integration with
retail and food information to help users eat and live better.”

“Together, ShopWell and Innit can empower consumers with personalized
food information as they plan, shop, prepare and cook,” said ShopWell
investor Chuck Templeton, managing partner of S2G Ventures and founder
of OpenTable. “As the global food market becomes digitized, Innit’s
platform is positioned to become the operating system for healthier and
more convenient cooking.”

Connecting Retail to the Smart Home

Many sectors have already been transformed with advanced technologies
and digital platforms, including automotive, music, photography and
commerce, but the $21.5 trillion global food & beverage industry has
lagged behind (source: Frost & Sullivan). However, technology
triggers including IoT, advanced sensors and machine learning are
driving a wave of digital innovation in food, enabling key advances in
food safety, freshness and flavor, sustainability, health and wellness
and consumer food preparation.

For food retailers, the pace of change has accelerated with trends such
as mobile device usage in stores, meal kits, on-demand delivery and
automated replenishment cycles in the home. Retailers are increasingly
looking to digital innovation initiatives to keep up with shifting
consumer behaviors and expectations. ShopWell has become a trusted
partner for retailers that want to help customers align purchases with
their health and nutrition goals and preferences. Now, with Innit’s
advanced retail API services, retailers can enhance the consumer
experience at the store shelf, within the home and throughout the entire
cooking process.

About ShopWellTM Labs, Inc.

ShopWellTM is a free app that empowers consumers to make
better decisions about the food they eat based on their age, gender,
dietary goals and restrictions. ShopWell’s patented algorithm -
developed by Registered Dietitians - analyzes ingredients, nutrition,
location and the popularity of over 400,000 products. ShopWell is
available for iOS
and Android.
To learn more about ShopWell, please visit www.shopwell.com.

About Innit

Innit® empowers people through food. The Innit platform combines
personalized cutting-edge information technology to enable information
from food and power the emerging connected food ecosystem. For more
information visit www.innit.com.